At long last, one of our most important Canaries in the Coal Mine - the Swiss National Bank - has exited a lengthy consolidation pattern to the downside. Frankly, we are surprised it lasted this long given its exposure to long US mega-cap.
Whatever is going on in there, it needs to take out 5400 on the upside to nullify today's short signal using the simple 40in20out.com trend trading approach.
(For what it's worth, for some reason our PineScript does not work on the delayed quotes on this exchange. We continue to investigate.)
Trade closed: stop reached
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In an extremely unconvincing fashion, the SNB has finally bested the highest high of the past 20 days. But to say something is fishy about the way this thing trades is a severe understatement.